Question
What is the cash flow to the creditors for 2018? Owens Company 2018 Income Statement Net sales 90,000.00 Cost of goods sold 55,800.00 Selling, general,
What is the cash flow to the creditors for 2018?
Owens Company | |
2018 Income Statement | |
Net sales | 90,000.00 |
Cost of goods sold | 55,800.00 |
Selling, general, and administrative expenses | 4,500.00 |
Depreciation | 6,300.00 |
Earnings before interest and taxes | 23,400.00 |
Interest | 2,484.00 |
Pretax income | 20,916.00 |
Taxes | 5229.00 |
Net income | 15,687.00 |
Owens Company | ||||||||
2017 and 2018 Balance Sheets | ||||||||
| 2017 |
| 2018 |
|
| 2017 |
| 2018 |
Cash | 9,000 | 9,900 | Accounts payable | 15,120 | 16,632 | |||
Accounts receivable | 7,200 | 7,920 | Accrued expenses | 6,480 | 7,128 | |||
Inventory | 10,800 | 11,880 | Current liabilities | 21,600 | 23,760 | |||
Current assets | 27,000 | 29,700 | Long-term debt | 43,200 | 49,680 | |||
|
| |||||||
Net fixed assets | 81,000 | 94,500 | Owners' equity | 43,200 | 50,760 | |||
Total assets | 108,000 |
| 124,200 |
| Total liabilities and equity | 108,000 |
| 124,200 |
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